♪ annmarie: good morning from bloomberg's european headquarters in the city of london. this is daybreak europe. a brexit deal for christmas. the u.k. and eu have the outline of an agreement. boris johnson is set to speak this morning. stimulus in limbo. gop ise pelosi -- the set to block it. beijing targets jack ma.

shares sink in hong kong. very good morning to you. the final trading day of the week because it is christmas eve. what a historic day it is. we are on the heels of the news coming out that the u.k. and eu have finally reached an outline for an agreement on brexit. we've been covering this story for 1644 days. at the very last minute, we do have a trade agreement insight. the latest news this morning is that boris johnson will be having a meeting with e.u. chief ursula von der leyen, expected at 7:00 u.k. time. the bbc is reporting we could hear from the pie minister at 8:00. that news conference would come at 11:00. keep your eyes out for developments. let's take a look at british assets. yesterday, a big bus -- boost to the ftse, domestically focused u.k. stocks.

it closed up. massive move in the gilt market. steepening into the gilt market. up see that 10 year yield 10.3 basis points on optimism. actually was anti-climactic interns of -- in terms hi -- in terms of how high you could possibly reach. still range bound. no massive move. we will find out from an fx strategist. look at the screen. this was going on in the broader market this morning. we are seeing more risk on optimism in time for christmas. asian equities up 5/10 of 1%. , even0 futures also up though that stimulus bill that nancy pelosi is going to bring for a vote today, the gop is set to block that. stocks in america pretty much shrugging that off. we will call it 95 basis points

this morning. brent getting a kick to the upside, north of $51 a barrel. in the u.k., swaths of england will be entering tier four. there's a risk on sentiment this morning that is helping assets overall. eu on the verge of unveiling a historic post-brexit trade accord. negotiators working through the night to put the finishing touches on a compromise. joining us now is anna edwards who has followed every twist and turn and has helped me sort out british politics. give us a sense of the significance of this deal. anna: good morning to you. it is really significant. 512 billion euros worth of goods trade between these two parties every year. the eu is the u.k.'s biggest trading partner. tariffs between these parties will be really significant. they work through the night to get this done.

that outlines appeared yesterday afternoon. they've been working through the night, trying to finish off those final details around fisheries. you had it in days. 4.5 years after the brexit vote, 11 months after the u.k. officially elected -- left the eu, nine months after trade talks started, it seems as if we will have an organized relationship to head to at the end of this transition arrangement. rather than wto terms and tariffs and the disruption that would've gone with that. the thing we are waiting for now is the detail. what should we watch for? what is going to stand out the most? anna: this is all about goods. the u.k. economy that is certain to. we will wait to see. this is about goods. for industries involved, they will look for any detail that

affects them. this is expected to be a tariff free trade agreement. it would encompass some other sectors like security and aviation. there will be cooperation around some of the sectors as well. in terms of how the deal was done, we will look for what has been agreed. fish has kept us waiting for so long. when you look at the percentage of goods trades that are done in waters, 0.13% of total goods trade. that is what has kept us talking into the night. what has been done there? has the u.k. come around to that you thinking? what did they get in return? what kind of cross retaliation is set out within the deal? that will be important. if you feel aggrieved by the other party on the way the deal is being implemented in

practice, what can you do about it? that's all going to be crucial. annmarie: 0.13%. that's astonishing. keeping everyone at their desks late through the night. what happens next? anna: we will hear this press conference. the variousough news sources talking about, 8:00, 11:00 this morning. the prime minister is set to make a christmas eve press conference around this brexit deal. he went to the polls in december of last year saying that he could get a brexit deal done. it will feel like a personal achievement for him if he's able to make that press conference to say that the deal has been achieved. we have to see it go through various parliaments through -- for approval. the parliament in the eu said it is too late for them. will the european council be able to do that? the u.k. parliament needs to approve this. have to saye erg

about the details? what will they make of the fish details? that was something they made a big deal about. forrest johnson has an 80 seat majority and an opposition party that would not want to be blamed for taking us into a no deal brexit situation. you get a sense that this could be approved. we will have to wait to see what everybody things about the detail when we get it. annmarie: that's what they want for their christmas holiday. thanks for joining us. bring youds will through the 7:00 and 8:00 hours when the markets open. hopefully more details about brexit because boris johnson is set to speak to the e.u. chief. joining us now is andreas steno larsen. we will have to kick it off with brexit this morning. i want to talk about the pound. we did get strengthening yesterday in terms of sterling. it's not busting out of her range. we have an outline of an agreement that we've been

waiting months, years four. was this priced in? do you think investors might want to give more weight to the british pound? andreas: good morning. i don't think that this is a bullish story for the pound. i think the market already have this as the base case. no one believed in the cliff edge scenario with a no deal including tariffs. that's one component. the second thing is that we still lack the details. it's not a done deal. we need to see this past parliament. i think that there is much uncertainty surrounding the tricky that makes this to buy. annmarie: if you were going to buy, would you want to go against the dollar or euro? where is the potential for the upside better for the british pound? andreas: i would certainly by sterling versus dollar.

i would definitely target the cable to reflect this brexit optimism. annmarie: i want to ask you about some of the other performances we saw. ftse 250 did very well yesterday. the ftse 100, less so. that's due to the stink the -- strength of the british pound. do investors need to be selective when they enter? will we see markings in the pound? andreas: i think so. there's a strong correlation between export opportunities, a strong correlation between the sterling and ftse 100. if the sterling starts rallying into the beginning of next year, which is a likely scenario if this is a strong deal, the ftse is not the place to hide from foreign soil. domestic investors may look for the opportunity to buy ftse. anna went through a

lot of the details, tings we are waiting for. what specifically are you waiting to hear about the granular details? not just the outline of the agreement. andreas: i'm actually looking for details on the service component. we know that the u.k. economy is almost 80% a servants economy. thee get some signals from authorities that they will look into the service component during the next years, i think that's the most bullish component we could get from such a press conference. services are the key. annmarie: what do you make of what this means for the boe? we saw a huge move in the gilt market yesterday. the money market now pricing in march 22 compared with november. what do you think this means for the bank of england? andreas: i'm not so sure that this rules out a cut for bank of

england. if we get a rally in sterling next year, we know that inflation will take a beating due to the fx sensitive inflation in the u.k.. if we get a strong rally, why shouldn't bank of england be willing to cut interest rates? i think it is still on the table in such a scenario. annmarie: what about going negative? does this reduce that likelihood? andreas: not really. reflect aay to sterling positivity is actually goaded negative. we know that negative interest rates works to counter a strong currency. that's basically the best way to reflect the bank of england going negative. annmarie: thank you for joining us this morning. you will stick with us for the first half-hour of the show.

we thank him very much. let's get you up to speed on some other headlines this morning with our first word news. president trump has pardoned his ax campaign chief, convicted in 2017 of lying to tax authorities about millions he earned as a political consultant in ukraine. he also pardoned roger stone, convicted of lying to congress and charles colson are. house republicans plan to block speaker nancy pelosi's bill today which boosts stimulus checks $2000. president trump demanded the larger payments. the house minority leader asked members to reject the proposal which requires unanimous consent. a covid-19 vaccine developed by chinese pharma firms has been found to be more than 50% effective in a brazilian trial. researchers are delaying releasing more information at the request of the company. 50% is the minimum standard step by u.s. regulatory -- regulators

for emergency authorization. vaccines from pfizer and mentor have produced much better results. global news 24 hours a day on air and at bloomberg quicktake, powered by 2700 journalists and analysts in 120 countries. this is bloomberg. up next, alibaba under pressure this morning. china targets the internet empire in a monopoly probe, sending shares stumbling this morning. we are down more than a percent in hong kong trading. details, and. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch

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goodness. when we did surveys two months ago, there was a most 50% of the people who had reservations or skepticism about getting vaccinated. the last survey was just last week. they said that more than 65% of the people said that they would

be willing to get the vaccine. we really want to get that up even much higher than that. the projection is that if you get anywhere between 70 and 85% of the population vaccinated, you would create an umbrella of immunity over the community which could really get the level of virus so low that it would not be a threat. then you can answer the question that everyone seems to be asking appropriately. when can we start approaching some degree of normality? when can we do things like having children in school or going to a restaurant and sitting indoors or going to a movie theater? if we start getting the general population vaccinated, let's say mid april, between now and then, we are going through the various priorities. we started off with health care

providers and people in nursing homes and long-term facilities. the second level is people over 75 and individuals in what's called necessary or important places in society to keep society running. that could be anything from a police officer to a fireman to someone who runs the grocery store so people can get food. when you get through those priorities, and you get to what i call open season. anybody can get the vaccination, even though you are not in a priority group. i imagine that will be sometime in april. if we can really get vaccines going in april, may, june, july, august. by the time that we get to the end of the summer, i think that we can get to that goal of getting the overwhelming majority of the population vaccinated. fauci -- annmarie: dr. anthony fauci there,

speaking to bloomberg about the vaccine rollout. he said the u.s. is trying to obtain samples of the virus variant from the united kingdom for further testing. the u.k. is doing us on -- a ton of sequencing. the cdc said it could be in the united states. let's talk about stimulus. house republicans are set to block nancy pelosi's bid to pass a bill boosting relief checks to $2000. this is according to bloomberg sources who participated in the call. pelosi has taken up president trump's plea for larger payments and is planning to seek approval in congress today. joining us now is chief global strategist. thank you for sticking with us. it's christmas eve. it's insane that the stimulus deal has yet to be passed. saidi has taken what trump . it looks like that's going to get blocked. do you see stimulus coming through in the united states before the new year? andreas: yes i do.

they have a deadline, the 28th of december. if they don't pass a deal, a lot of people will fall out of the benefit programs. they need to strike a deal. i think the door is still open for this $2000 check from trump's suggestion. who wants to steal christmas? do the republicans want to steal christmas for everyone? dohink they will ultimately this. it's very tricky to go up against this suggestion by trump. , think the door is open compared to the first version of the deal that we saw. consumer spending data yesterday was quite weak. consumer spending is the majority of the u.s. economy. are you worried that the u.s. economy recovery is running out of steam? andreas: not really. if theystart to worry

don't strike a deal before new year's. i think it's really important for the consumption patterns in the u.s. that they keep these direct transfers up. it was a focal point during the recovery in the second quarter this year that they had direct transfers to the regular people in the u.s.. this is a much-needed tail. if they don't strike a deal, i would start to be more scared. for now, i'm still optimistic. annmarie: you are still an optimist that the republicans are willing to get those $2000 stimulus checks. do you think there could be an agreement between the 600 and 2000? could they find a compromise? andreas: maybe it's a good idea to meet in the middle-of-the-road. will atthat the deal least have some sort of bigger check for regular people in it compared to the $600. whether we get to 2000 is another discussion. they will certainly compromise

at a higher level than $600. annmarie: i wanted to get your thoughts on 2020 run. -- 2021. do you think it will change u.s. policy in terms of the dollar? a lot of commentary is happening right now in terms of potentially janet yellen projecting a strong dollar policy. do you perceive that -- for c that -- forsee that? andreas: i don't really buy into that narrative. she's actually been very neutral on the dollar. every time she was asked on the dollar when she was head of the federal reserve, she said that it was very tricky to find out whether an exchange rate gave the u.s. a competitive advantage or not. my guess is that she would be the dollarrutal on compared to the trumpa ministration. i don't think it will be a clear

objective for the new administration to guide the dollar exchange rate. i think they will look for other focus points. annmarie: thank you for joining us this morning. very merry christmas and happy holidays to you. i hope you get some rest after the year we've had. up next, alibaba under pressure. china targets jack ma's internet empire, sending shares tumbling. we go to hong kong, next. this is bloomberg. ♪

annmarie: good morning. christmas is tomorrow. launched a monopoly prone into alibaba, sending stocks tumbling. financial regulators have some inside companies fintech affiliate. the move escalates scrutiny on

the empire. alibaba said it will cooperate with regulators in their investigation. joining us now is lulu chen. get us up to speed. what is the latest on the regulatory crackdown? lulu: today's announcement is annexed collation of scrutiny over the two pillars of the internet empire. as of now, we've been told that the watchdog for monopoly regulations are looking into an investigation on the e-commerce business for jack ma. separately, for his fintech giant and group which halted its ipo in november, the world's largest ipo. it has been under so much scrutiny, given how financial regulators and the company are looking at everything from the wealth management business to his credit lending business.

today's news, the court needed effort from the government front seems like an escalation of scrutiny that is being cast on his internet operations. what does this mean for china's internet industry as a whole? lulu: because jack ma has been the largest or most high-profile billionaire, all that attention has been focused on his companies. you are right in the sense that there's a lot of other regulatory crackdowns in the wider space for internet companies including tencent and also jd.com. also just a raft of community buying services. for example, internet companies that provide grocery services. they are all under regulatory scrutiny right now. people are calling this a watershed moment that could define how the internet sector is going to be shaped up in the

next years going forward. annmarie: you can see the financial impact on the screen next to you. 8% thisdown more than morning, dragging down the other big internet names. thank you for that round up this morning. i want to get a quick check on where we trade in u.k. assets. we have news coming out this morning that boris johnson will be speaking to e.u. chief ursula von der leyen in about a half hour, 7:30 u.k. time. the bbc is saying he will brief the press at 8:00. the sun was reporting that that will be at 11:00. keep an eye out. it right there. ftse 100 futures are liking the news. we are up 5/10 of a percent. andres larson says it's not a done deal yet. we could potentially see some more upside when it comes to the brexit barometer. coming up, catch of the day.

we continue the conversation on the brexit agreement. u.k. and eu reach a compromise on fishing rights, a historic agreement. more details next. this is bloomberg. ♪

♪ annmarie: good morning from bloomberg's european headquarters. this is daybreak europe and here's what you need to know. a brexit deal for christmas. the u.k. and eu have the outline of an agreement. boris johnson is set to speak this morning. stimulus in limbo. nancy pelosi's bill for $2000 stimulus checks get of vote today. the gop is set to block it.

beijing targets jack ma. alibaba faces a monopoly probe. shares in hong kong sink on the news. very good morning to you. it's 6:30 a.m. in the city of london. the final trading day of the week. tomorrow is christmas. we do have an outline for a historic brexit agreement. days since we got that vote that there would be an exit of britain from the european union. we've been covering it ever since. yesterday, the bbc reporting that johnson and founder lien had four calls yesterday to get this deal done. the next big move is in 30 minutes time. boris johnson will be briefing the press. -- 8:00.ys all he will be talking to the public likely before u.k. markets close. markets close early around the world today for the christmas holiday.

we are seeing futures brighter this morning. 5/10 ofa-pacific down 1% alongside s&p 500 futures. we are waiting for that stimulus deal in the united states. president donald trump wanted 2000 stimulus dollar checks instead of 600. nancy pelosi agreed. the gop is not going to get on board. yields rise yesterday and brent. at ftseickly look number two. this is what we have in terms of u.k. assets. i want to look at the pound. up for tenths of 1%. thats larson telling us it's not a done deal yet. he wants to look at the details. if there are good details regarding the services sector, we could see further upswing to the british pound. on the verge of unveiling a historic post-brexit trade accord.

negotiators working through the evening to put the finishing touches on a compromise. joining us now is on edwards. -- anna edwards. how significant is this deal? anna: look what we found under the christmas tree. we are edging closer towards this post-brexit trade deal between the u.k. and the eu. 512 billion euros. that happens between these parties every year. that's why this is significant. the eu is the biggest trading partner for the u.k.. if we ended up on wto, it would have been tariffs. arrange on different tariffs. confusion andome some complexity to the trading relationship that has been deepening and getting more integrated during e.u. membership. it seems as if we avoided wto terms. we've avoided that. it looks as if we will be going

onto a much more organized trading relationship at the start of january. after we saw that vote for brexit in the u.k., 11 months after we left the eu, nine months after the trade talks started, it seems as if we are edging ever closer toward that deal. some of the questions around fish, we look for the details to see what that exactly involves. how much compromise was necessary and from which side around the fish question. also cross retaliation. broadly, the deal itself, it will be about tariff free trading goods. it will enqueue -- include a few other areas like security and aviation. whether that will be anything that the service sector can cling to. annmarie: what happens next? orest johnson will speak today. what about the next week or two?

it is the christmas holiday but they need to get this through the parliament. anna: absently. there are a few approval processes that need to take place. we are expecting to hear from boris johnson later today. the learned p.m. parliament has already said, it's too late now. their deadline was sunday. there is process within various treaties for the european council to approve it on their behalf. waiting for the european parliament to come through and approve things in january. how will the parliamentarians in europe feel about that? that might be the process that is followed to avoid any kind of tooling and for owing around the rules in early january. in the u.k. context, this is going to the u.k. car limit. -- parliament. what will the bread exit members of his party make of the details here? what will they think of fish?

we edged towards the last minutes. what will they make of it? he has a majority of 80. he may get the support of the opposition. the labour party won't want to be a party that is blamed for giving the country a no deal brexit. we will see where this takes us. focus on the approval process. that will be next. annmarie: you mentioned the covid year. this weekend, more parts of england will be entering tier four. that picture looking to me and gloomy here in the u.k.. brexit, a potential bright spot. thank you so much. she will join us with her show at the top of the hour when boris johnson is expected to speak with ursula von der leyen. anna will bring you all the latest news. 2020 saw an unprecedented level of central-bank support.

here are some of the highlights. >> there are some signs that global growth may be stabilizing after declining since mid 2018. >> as for the uncertainty surrounding the impact, it's a renewed source of concern. >> that could lead to disruptions in china that spill over to the rest of the global economy. coordination and action is so much more. >> we will not run out of ammunition. that doesn't happen. >> we will use any activity that we have. >> recovery may take some time to gather momentum. the passage of time can turn liquidity problems into solvency problems. >> the ecb will continue to support the recovery. >> we are not thinking about raising rates. an ambitious and core dated fiscal stance remains critical.

>> our statement indicates that we will seek to achieve inflation that averages 2% over time. >> negative rates are in the toolbox but we are not planning to use them at the moment. at easinger to look rates. >> we will remain highly accommodative. >> we need to thoroughly analyze the forces that are driving inflation dynamics today. >> [inaudible] >> it is clear that covid-19 will cause lasting changes to our economy. central bankers around the world for 2020 recapping there. joining us now is simon kennedy. how would you describe this year's central bank response. what stood out for you?

ofon: there's been a lot conversations among economists and policymakers about how central banks use their firepower, given what they did with the 2008 financial crisis. they never fully reversed it. when push comes to shove, which it literally did with the shoving of the economy into the deepest recession on record, the central bank still had room, some kind of intellectual firepower as well to think about what they could do. they cut rates to record levels. deeper into negative territory. they extended the assets they were buying. 10 years ago, it was government bonds that are regularly available. this time, corporate bonds. what surprised me the most is how innovative the central banks were.

that comes with potential risk. yet again, they performed battlefield medicine and will deal with the byproducts later. is 2021 going to be the same policy outlook? is there anything they can do to change that? simon: no. lower for longer is where they expect to be in 2021. also, higher for longer. the balance sheet exploded again. they will not be coming down soon. banksst for the central in 2021, they will want to keep their boots on the accelerator. they will want to be continuing those record low rates, record high balance sheets. trying to ensure that the economic recovery has momentum of its own before they look to pull back. they do have a risk to that. there's a chance that inflation

comes back next year. it felt so low this year. back isce that it comes pretty high. you will have to have central banks trying to explain why inflation is up. that will create a communication challenge. we sought after 2008. central banks have to watch their words. the risk that they imply that they will tighten monetary can create a numerous risks to financial markets. we could have a fresh tantrum among investors. the main aim of the central bank, the fed has its new target and strategy. banks, will put central inflation lower down will be the priority.

there's a lot of communication challenges for the central banks in the year ahead. higher for longer on the balance sheets. that will probably be the guiding principle for next year. get what youant to think about what's going on with the bank of england. money markets yesterday pushing to march 2022bets compared to november due to the brexit agreement. the outline that we learned about yesterday. given the fact that we potentially have that agreement in place, could we see the boe act sooner? simon: i think that the new deal will be in a norm a sense of relief for the bank of england. negative interest rates on the table. not a huge amount of enthusiasm for those. suspect that the no deal brexit will be welcomed by the

bank of england. something to cheer for at the moment. the economy will still have a reset in trade relations with the eu. it still has considerable challenges of its own. thank you for that update. next, christmas hampers and afternoon tea. how was the luxury retailer weathering the covid-19 crisis? we speak to the ceo. this is bloomberg. ♪

annmarie: good morning. this is daybreak europe. the u.k. laid out plans to expand restrictions to more parts of england. retailers losing out on the

lucrative post-christmas in-store sales. more parts of england will join london and the southeast under a tougher locked to curb covid-19. this is another blow for the already embattled retail sector which has seen mass job cuts as stores struggle to cope with measures to stem the virus. is ewan venters. good morning and thank you for joining us. it's my first time spending christmas in the u.k.. i finally got gifted a famous fort number hamper. you are still having people buy stuff that is very important for christmas. how have the restrictions on london and other parts of england impacted your sales? ewan: >> the impact is devastating. the enhanced restrictions. -80%w footfall drop to

overnight. that has a very big impact on our business. especially in those days closer to christmas. although the covid year has been a year of a norm is growth for our online business, and online businesses throughout the world, we've been flagging since mid-november. demand for online was becoming so intense during december that there comes a point when there simply isn't enough logistics capacity left to make all the deliveries pre-christmas. what happens then is, traditionally, consumers would then move into the high street and physical stores. because of the restrictions, that's not possible. it's almost a double hit, really. last saturday when the news was ,roken by the prime minister

you could see the panic that was on people's faces. the thought that they had just a few hours left to get out and buy all of their christmas presents in the majority of physical stores. it's a tough one for retailers. i do feel for the producers. -- it'sll producers made in the united kingdom. often buy small family artisans in organizations. timeve had a really tough surviving. i suspect some of them might not make it. annmarie: have you seen a rapid rise in these online sales? are they as profitable as people going into the store? you are famous for the experience. ewan: absolutely. it's all about the physical experience. digital sales are important. profitable.eed

not as profitable as a physical store sale. they are still a profitable part of the mix. achieved, 2020, we've in sales terms, what we anticipated achieving in 2025. one can imagine just what a pressure that put on the logistics and supply chain. in 2021, we will have to accelerate our investments to make sure that we are better allowed or more able to that online number to continue to grow. it's an exciting opportunity. we would really love to find a way of living with covid-19 to allow our shops to trade in a safeway, on a more certain basis. to 2025 onlineot sales growth this year alone. the high street was already under pressure. do you think this trend from

covid-19, is that going to kill the high street once and for all? ewan: it will absolutely kill it in the traditional sense. it killed it dead already in the way that we know how high street's work. the recovery groups and government attention needs to shift towards more creative approaches. how are we going to rejuvenate high street? how do we change planning policy? how do we more -- allow more residential developments? how do we bring in more goods and services? how do we think differently about green policy in the city and the use of bicycles? i think the high street can become something quite interesting again. it just needs creative thinking and cross government, local community working groups in order to figure out how the high street works. as it has been known, it's over at the high street. annmarie: earlier this week, you

praise the management of covid-19 by the hong kong government. you said there were fewer conditions on retail and they were a lot more nimble on hospitality. things like limiting household mixing and table size. there was always absolute continuity. we've carried on trading throughout. politicians here do not seem to realize the significant cost of closing a business and opening it up again. has the u.k. government mishandled the crisis? the government policy was about communication. i think the communication has been externally poor. policy itself might well have been right. the ability to communicate has been mishandled. believer in the power of unintentional consequences. lockdown at 4:00 on a saturday and tell people

that is going to be effective at midnight. and then you are surprised that londoners all rushed to the train stations and airports? the very next day, senior ministers criticized citizens for getting on crowded trains. this is all misguided. it's not sensible. for the hospitality sector in particular, of which 20% of our business is in hospitality, closing down restaurants with hours notice -- imagine all the fresh food. all the bakery products, the meek products, the dairy products. it's already in the supply chain. what will happen to that food? who pays for it? in an age where we are quite rightly paranoid and passionate about avoiding food waste, where was the consideration for how these practicalities? that's why i was making the comment the other day about hong kong.

they never ceased trading. they just managed around the virus. only have a few moments left. i have to get your thoughts on brexit. is it coming at the worst possible time? ewan: of course. it's one of these bad movies. you've got managing covid. startingt potential overnight. this idea that two of the largest trading blocs in the western world were not able to get a compromise was incredulous, really. the good news is it feels like there's going to be in agreement. i have been a big supporter of the prime minister in the belief that he will bring home a deal. let's see what the details look like. are able tohat we look to the future with a bit more optimism about treating

with europe. annmarie: thank you so much for joining us this christmas eve morning. we will discuss brexit, next. we are grinding down to that agreement. 7:00, boris johnson will speak to undulate vern the lion. this is bloomberg. ♪

annmarie: good morning. we are counting down until a phone call between boris johnson and ursula von der leyen, that will be taking place at the top of the next hour. we are learning from the bbc that they had for phone calls yesterday to nail down this outline of an agreement. people are working through the night to put the finishing touches on this historic agreement. we've been covering brexit since the referendum 1466 days ago. today, we may finally get a trade agreement.

boris johnson set to speak to the public at 8:00 or 11:00. we will be looking out for that. anna edwards will bring you through all the twists and turns. that does it for me. u.k. equity markets looking higher. this is bloomberg. ♪

♪ anna: good morning. welcome to the european open. live in london. the cash trade is just under an hour away this christmas eve. let's get to your headlines. a brexit deal insight for christmas. the u.k. and eu have the outline of an agreement. boris johnson is set to speak this morning. stocks and futures point higher in something with thpo